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Student loans totaled more than $1.3 trillion, averaging $25,000 each for 40 million debtors. The debtors average age was 33. Forty percent of the debt was owed by people 40 or older. In a 2017 report by the National Center for Education Statistics, the researchers found that 27% of all student loans resulted in default within 12 years.
Total sample size was 3,684 U.S. adults, of whom 1,400 have ever had a student loan and 588 currently have student loan debt. Fieldwork was undertaken on June 12-15, 2023.
In the United States, student loans are a form of financial aid intended to help students access higher education. In 2018, 70 percent of higher education graduates had used loans to cover some or all of their expenses. [ 1] With notable exceptions, student loans must be repaid, in contrast to other forms of financial aid such as scholarships ...
In June, 43.6 million Americans held federal student loan debt, with an average balance of $38,000 per borrower. In total, the U.S. has a collective balance of over $1.7 trillion in student loans ...
In 10 years, the loan program experienced 230% growth in the loan portfolio and 130% growth in the loan recipients. Student loan debt in 2019 is the highest it has ever been. According to the latest loan debt statistics, student loan debt has become the second highest consumer debt category behind mortgage debt. [15]
Florida continues to rank high for total federal student loan debt in the U.S., with over $105.4 billion owed.
Student loans in Florida: Borrowers owe average of $35,496 in federal, private debt — and more facts && Florida’s public university system has an enrollment of more than 300,000 students ...
The US Department of Education reported that the median total student loan debt for Americans who completed the AUC medical program was $331,634 (as of 2019). The default rate as of 2016 was 0.7%. The US DOE also reported that 63.49% on time completion for those completing the program. [20]